I wonder what's the reason for the change? The article just mentions vaguely about the EU tightening border security. But is border security from Canada really a concern? Or did we just get swept up in a larger change?
I'm personally of the opinion we should be going the opposite direction. It should be easier to visit, work, and immigrate/emigrate to and from similar countries.
The EU is basically slapping Canadians with a reciprocal policy. Canada has the eTA (electronic travel authorization) which they have to file and pay 7$ to visit, even if they don't need a visa. This is the same in reverse.
tl;dr: replaces tourist visas which were previously required for 90+day stays. Costs $10 to apply, and is expected to be processed in less than two weeks.